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HubSpot (HUBS) Just Reclaimed the 50-Day Moving Average
From a technical perspective, HubSpot (HUBS - Free Report) is looking like an interesting pick, as it just reached a key level of support. HUBS recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.
Shares of HUBS have been moving higher over the past four weeks, up 5.8%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that HUBS could be poised for a continued surge.
The bullish case only gets stronger once investors take into account HUBS's positive earnings estimate revisions. There have been 12 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors should think about putting HUBS on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.